TOKYO, Jan. 24 (Xinhua) -- Japan's hopes of seeing the expansive Trans-Pacific Partnership (TPP) free trade agreement involving 11 other nations come to fruition and significantly boosting regional trade between countries involved and potentially bolstering global gross domestic product have come crashing down after the United States pulled out of the deal.
U.S. President Donald Trump in one of his first tasks as the nation's new president signed an executive order permanently removing the U.S. from the TPP negotiations and as the biggest signatory to the deal, in doing so, has effectively quashed the pact from launching in the form it was intended.
In his run up to being elected, Trump had made no secret of his intentions to scarp the deal, calling the pact "the worst deal ever" with his words after signing the order canceling America's participation echoing his former sentiments.
Ditching the deal that had been approved by the 12 countries involved when former U.S. President Barack Obama was in office, Trump called the presidential memorandum "a great thing for the American workers."
Although Japan has prior to and since Trump taking office as president vocally rallied to have the U.S., who accounts for 60 percent of the signatories' GDP alone, remain on board, with a personal visit from Prime Minister Shinzo Abe and pleas from other high-ranking Japanese officials for Trump to come around to Japan's view of the TPP of being of "great strategic and economic significance", Japan, it would seem, has been left high and dry.
"We believe that President Trump recognizes the importance of free and fair trade, and we want to take the time to seek his understanding on the strategic and economic significance the TPP holds," Deputy Chief Cabinet Secretary Koichi Hagiuda told a press conference Tuesday, reiterating the government's long-held position.
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